Los Angeles Capital Management LLC Raises Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Los Angeles Capital Management LLC lifted its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 6,707.0% during the second quarter, Holdings Channel reports. The fund owned 116,332 shares of the semiconductor company’s stock after purchasing an additional 114,623 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Onto Innovation were worth $25,542,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Onto Innovation by 24.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after purchasing an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Onto Innovation by 98.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after acquiring an additional 2,753 shares during the last quarter. Nordea Investment Management AB grew its holdings in Onto Innovation by 17.8% in the first quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock valued at $18,586,000 after purchasing an additional 15,451 shares during the period. Eagle Asset Management Inc. raised its stake in Onto Innovation by 36.8% during the fourth quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock worth $45,231,000 after purchasing an additional 79,530 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Onto Innovation by 106.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,263 shares of the semiconductor company’s stock valued at $1,111,000 after purchasing an additional 3,746 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

ONTO has been the subject of several research analyst reports. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, August 9th. Jefferies Financial Group assumed coverage on shares of Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price target on the stock. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. B. Riley lifted their target price on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Stifel Nicolaus upped their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $259.00.

Onto Innovation Stock Down 5.5 %

ONTO opened at $177.30 on Friday. The firm’s 50 day moving average is $203.81 and its 200-day moving average is $201.17. Onto Innovation Inc. has a 52-week low of $108.98 and a 52-week high of $238.93. The firm has a market capitalization of $8.74 billion, a P/E ratio of 63.10 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The business had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period last year, the business earned $0.79 EPS. The business’s revenue was up 27.1% on a year-over-year basis. Equities analysts expect that Onto Innovation Inc. will post 5.11 earnings per share for the current fiscal year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.